Stock Traders Purchase High Volume of MongoDB Put Options (NASDAQ:MDB)

MongoDB, Inc. (NASDAQ:MDB) saw some unusual options trading on Wednesday. Stock traders acquired 23,831 put options on the company. This is an increase of approximately 2,157% compared to the typical volume of 1,056 put options.

Insider Activity

In other MongoDB news, Director Hope F. Cochran sold 1,175 shares of the business’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $266.99, for a total transaction of $313,713.25. Following the transaction, the director now directly owns 17,570 shares of the company’s stock, valued at approximately $4,691,014.30. The trade was a 6.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Michael Lawrence Gordon sold 5,000 shares of the stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $290.31, for a total transaction of $1,451,550.00. Following the completion of the transaction, the chief financial officer now directly owns 80,307 shares of the company’s stock, valued at approximately $23,313,925.17. The trade was a 5.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,775 shares of company stock valued at $9,264,812. Insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On MongoDB

Several hedge funds and other institutional investors have recently modified their holdings of the business. Aigen Investment Management LP bought a new position in shares of MongoDB during the 3rd quarter worth approximately $1,045,000. Geode Capital Management LLC grew its holdings in shares of MongoDB by 2.9% in the third quarter. Geode Capital Management LLC now owns 1,230,036 shares of the company’s stock valued at $331,776,000 after acquiring an additional 34,814 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of MongoDB in the 3rd quarter worth about $4,366,000. Charles Schwab Investment Management Inc. raised its holdings in shares of MongoDB by 2.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 278,419 shares of the company’s stock worth $75,271,000 after purchasing an additional 7,575 shares during the period. Finally, Sanctuary Advisors LLC purchased a new position in shares of MongoDB during the 2nd quarter valued at $1,860,000. Institutional investors own 89.29% of the company’s stock.

MongoDB Stock Up 0.0 %

Shares of MongoDB stock opened at $243.00 on Thursday. The business has a fifty day simple moving average of $289.29 and a 200 day simple moving average of $268.01. MongoDB has a 12 month low of $212.74 and a 12 month high of $509.62. The stock has a market cap of $18.10 billion, a PE ratio of -88.69 and a beta of 1.17.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings data on Monday, December 9th. The company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.48. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The company had revenue of $529.40 million during the quarter, compared to analysts’ expectations of $497.39 million. During the same quarter last year, the company earned $0.96 EPS. MongoDB’s revenue for the quarter was up 22.3% compared to the same quarter last year. Analysts expect that MongoDB will post -1.86 EPS for the current fiscal year.

Analyst Ratings Changes

MDB has been the subject of several recent analyst reports. Royal Bank of Canada upped their target price on shares of MongoDB from $350.00 to $400.00 and gave the stock an “outperform” rating in a report on Tuesday, December 10th. The Goldman Sachs Group upped their price objective on MongoDB from $340.00 to $390.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Needham & Company LLC increased their target price on MongoDB from $335.00 to $415.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Wells Fargo & Company boosted their price target on MongoDB from $350.00 to $425.00 and gave the stock an “overweight” rating in a report on Tuesday, December 10th. Finally, Truist Financial reaffirmed a “buy” rating and set a $400.00 price objective (up from $320.00) on shares of MongoDB in a report on Tuesday, December 10th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $366.14.

About MongoDB

MongoDB, Inc, together with its subsidiaries, provides general purpose database platform worldwide. The company provides MongoDB Atlas, a hosted multi-cloud database-as-a-service solution; MongoDB Enterprise Advanced, a commercial database server for enterprise customers to run in the cloud, on-premises, or in a hybrid environment; and Community Server, a free-to-download version of its database, which includes the functionality that developers need to get started with MongoDB.